Bulgarians Work Twice Longer For Own Home

The average Bulgarian household hast to give its entire 7-year income to buy a 75 sq/m home, while the other Europeans need between 2.5 and 4 yearly incomes, shows a 2012 survey.

It was presented by the Minister of Investment Planning Ivan Danov.

According to him, Bulgaria has the least social housing in the EU and his ministry will work for the increase of the number of such homes.

Danov's ministry will develop a plan for easing the access to homes of low income families by increasing the number of residential buildings.

According to him, the project will require the cooperation between the state and the business. The state and the municipal authorities will provide lots for free, while the business “will build, manage and maintain the social housing in exchange of certain rights.”

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